What I wish I had known before buying Investment Real Estate

 

 Buying investment and income real estate since 1985 there are some important things I wish I had known before buying. I want to share a few of the most important.

1. Location is everything having a property that people want to live in. The area must consist of places to shop for everything you need on a weekly basis. For example grocery stores, restaurants, Gas stations, Department stores you get the picture.

People want to have everything convenient to their area they live in.

2. Schools are another important factor for a lot of tenants. There are areas in Cleveland that people want to live in because they want their kids to go to a certain school public and private.

3. Layout and floor plan are also important to a tenant. Dining Room, no dining room can make a difference in the rental amount you get for a property.

4. Quality of tenants is a huge factor when buying income real estate. We have tenants that stay in our properties for years. Average tenant stay is 18-24 months. We keep ourselves and our clients in good areas that keep tenants

Turnover in tenants can be a huge factor on how much you make on each property. Every property looks great on paper but that is not what a property always does. That is why we are so transparent with our clients net profit. We are proud of the success we have had for our clients.

5. Equity is also a huge factor in creating wealth. That means that the property has to be in a good location for it to grow in equity. Let's face it, who wants to live in an area that has a lot of issues?

There are always investors that say I am only buying the property for income. They do not calculate the turnover in tenants and the cost of that. You also never know what life is going to deal you and I have seen investors who wish they could sell bad real estate.

6. Having a team of professionals that would assist me in my real estate purchase, rehab, leasing, management, and selling of my real estate.

The good news is you have all that with me and my companies.

These are some of the things I wish I would have known before becoming an investor.

Need to get professionals that can help with selecting the optimum real estate for your portfolio that creates both income and equity?

Call me (Brett) 216-703-5740 Fathom Realty or WhatsApp me at the same number

 

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